BINGHAMTON – Neighboring Broome County, all by itself, holds enough natural gas reserves to leverage the creation of 16,000 good-paying jobs, $793 million in wages, and $15.3 billion in total economic output according to a study released Wednesday.
The report, compiled by researchers from the University of North Texas, who had previously studied the Barnett Shale, comes on the heels of a Penn State study also released this week which found that for every Marcellus Shale well developed in the Pennsylvania, $6.2 million in economic impact could be realized.
The figure may be even higher in the state of New York, with gross revenues exceeding $9.3 million per well. No such study has been compiled for Chenango County, but both individuals landowners and coalitions stand poised for leasing once the New York State Department of Environmental Conservation completes its permitting protocols for shale.
Broome County Executive Barbara J. Fiala, who commissioned the study, said it had been difficult to quantify the impacts of what the area could experience from developing its economic resources.